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Friday, 3 July 2015

KorEconomics 101 (한국경제학개론), Part XX: Samsung Fire and Marine Insurance

Samsung Fire & Marine Insurance (Hangul/Hanja/Romanization: 삼성화재해상보험/三星火災海上保險/Samseong Hwajae-Haesang Boheom; Korea Exchange Stock Code: 000810) is a multinational insurance which is headquartered at Samsung Fire & Marine Insurance Building - 29 Eulji Avenue, Euljiro 1-ga 87-beonji, Seoul Jung-gu. Its principal products include automobile, long-term and commercial insurance, enterprise risk management, and annuities.

Samsung Fire & Marine Insurance was incorporated on January 26th 1952, under the name Korea Anbo Fire Marine Reinsurance Co., and later renamed as Ankuk Fire & Marine Insurance Co., Ltd. in March 2nd 1963. On December 6th 1993, the company changed its name into Samsung Fire & Marine Insurance Co., Ltd.

Samsung Fire & Marine Insurance Co., Ltd., together with its subsidiaries, provides non-life insurance products in South Korea and internationally. The company offers commercial non-life insurance products and services, such as house, general, and factory fire insurance products; ship, airplane, and freight insurance products; and technology, casualty, and liabilities insurance products. 

It also provides long-term non-life insurance products and services, including disease/casualty, property, savings, and personal pension products, as well as integrated insurance policy, which includes casualty, cancer, disease, and liability coverage. In addition, the company offers auto insurance products; and loan products comprising insurance policyholder loans, apartment mortgage loans, and credit loans. 

Further, it provides health screenings, bed care, medical check-up reservations, car management, car cleaning, car doctor, funeral costs support, home cleaning, legal and tax consultant, golf reservations, and travel support services. Additionally, the company offers car services, which include emergency road side assistance, auto check-ups, inspections, car scraping, and car cleaning services; claims appraisal services, such as property claims appraisal and commercial/long-term insurance appraisal; and virus vaccine, money tech/tax information, privacy safeguarding, and smart phone children protection services. The company has offices in USA, Europe, and Asian countries such as China, Indonesia, Japan, and Vietnam.